Real estate investors like Orange County CA residential real estate and now have a new advantage.
Orange County’s home buying was up this year during July 2012 – Buyers purchased 3,087 homes in July, which is 25.7 percent more than in July 2011 – the largest year-over-year percentage increase in sales in more than three years – home buying was up at 67 of 83 Orange County ZIP code areas.
Median sold price of an Orange County home – the price at the midpoint of all sales – was $450,000 in July 2012 – which is way up from trench during February this year.
Image by the Orange County Register
1031 Exchange of property income tax break for Investors
If an investment property is sold, Section 1031 of the Internal Revenue Code allows the seller to defer the payment of capital gains taxes. In order for the entire tax liability to be deferred, the taxpayer must reinvest all of the sale proceeds and buy a property of equal or greater value, and the new property must be acquired within 180 days. There are significant requirements set forth in Section 1031, and smart investors consult with income tax professionals and real estate attorneys.
There are solid reasons for Orange County CA real estate investors to continue to like buying and selling of residential properties.
Source of some information is OCRegister.com – This is for information only and is not the providing of legal or professional investment advice. If you want to buy or sell real estate as investment, you should contact an experienced income tax professional or real estate attorney in your area.
Contact us about listing and sale at Orange County CA homes and real estate. ~ Professional REALTOR® broker representation and help for property owners, trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, estate guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.